I covered Wells Fargo’s AMD upgrade at the start of July, making a specific case that the server CPU story was being underappreciated relative to the GPU narrative. On July 5, 57-year-old Goldman Sachs also made the same argument louder and with a bigger number.

Goldman Sachs analyst James Schneider raised the firm’s 12-month price target on Advanced Micro Devices (AMD), maintaining a Buy rating, according to the firm’s note shared with TheStreet. The upgrade represents a 42% increase in the price target on a stock that is already up 157.77% year-to-date, as of this writing.

AMD closed July 6 at $552.05, up 6.61% on the session, with a market cap of $900 billion, according to Yahoo Finance. The $640 target…